Understanding your costs is the foundation of a sustainable and profitable CPG business. This class will guide emerging food and consumer packaged goods entrepreneurs through the core principles of product costing, with a focus on accurately calculating ingredient costs and translating them into effective pricing strategies. Participants will learn how to break down recipes into measurable costs and account for packaging and production expenses.
The session will also cover how to evaluate margins across different sales channels, avoid common pricing pitfalls, and ensure profitability as you grow. By the end of this class, attendees will have a clear framework for costing their products and setting prices that support both growth and long-term success.
About the Speaker:
Connor Thompson has over 10 years of experience in the food industry. He spent 3 years working in scratch kitchens before pursuing his Culinary Nutrition degree at Johnson and Wales University. During school Connor developed recipes and products at America’s Test Kitchen and Valley Fine Foods Fresh Pasta. For the last 7 years Connor has worked as a Culinologist at Ingredion focusing on Product Development in the Clean Label, Plant Based Protein, and Foodservice space. He has developed food product solutions for numerous companies from small coffee shops to global hotel chains and large-scale food manufacturing.
